Macroeconomic Report & Economic Updates

May 10, 2017

Nigeria Economic Update (Issue 15)

Nigerian
Naira depreciated by 1.2 percent at the parallel foreign exchange market
between April 7, 2017 and April 14, 2017. The naira exchanged at N410/$ as
against N405/$ the previous week. Despite the CBNs weekly dollar
sales to BDCs ($20,000 to each BDC in the review week) and spot market sales of
$100 million to SMEs, the nairas depreciated in the week. This may
likely be attributable to speculative motives (on the basis that speculators
likely anticipate that the CBN forex interventions may not be sustainable).

Download Label
March 13, 2018 - 4:00 am
application/pdf
600.03 kB
v.1.7 (stable)

Related

 

Analysis Of Bilateral Trade In UEMOA The Implications Of Trade Effects

The paper examines the implications of trade effects in bilateral trade drawing evidence from West African Monetary and Economic Union (UEMOA). It also discusses the importance of political stability to trade in ECOWAS countries.